Lumen Technologies (NYSE:LUMN) Price Target Increased to $4.50 by Analysts at The Goldman Sachs Group

Lumen Technologies (NYSE:LUMN) had its price objective increased by The Goldman Sachs Group from $4.00 to $4.50 in a research note issued to investors on Friday morning, Benzinga reports. They currently have a neutral rating on the technology company’s stock.

A number of other equities research analysts also recently issued reports on the stock. UBS Group boosted their price objective on shares of Lumen Technologies from $1.50 to $5.00 and gave the company a neutral rating in a research report on Wednesday, August 7th. Wells Fargo & Company cut Lumen Technologies from an equal weight rating to an underweight rating and upped their price target for the stock from $1.75 to $4.00 in a research report on Friday, August 16th. Citigroup upgraded Lumen Technologies from a sell rating to a neutral rating and boosted their price objective for the company from $1.25 to $3.15 in a research note on Tuesday, August 6th. Bank of America raised their target price on shares of Lumen Technologies from $1.00 to $2.00 and gave the stock an underperform rating in a research note on Thursday, August 8th. Finally, TD Cowen upped their price target on shares of Lumen Technologies from $2.50 to $7.00 and gave the stock a hold rating in a research report on Wednesday, August 7th. Three research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $4.09.

Lumen Technologies Stock Performance

Shares of LUMN opened at $6.24 on Friday. Lumen Technologies has a one year low of $0.78 and a one year high of $7.83. The business has a fifty day moving average of $5.71 and a 200 day moving average of $2.85. The company has a debt-to-equity ratio of 39.51, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market capitalization of $6.33 billion, a P/E ratio of -0.57 and a beta of 1.19.

Lumen Technologies (NYSE:LUMN) last released its quarterly earnings results on Tuesday, August 6th. The technology company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.07). The business had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $3.25 billion. Lumen Technologies had a negative net margin of 15.06% and a negative return on equity of 18.52%. Lumen Technologies’s revenue for the quarter was down 10.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.10 EPS. As a group, sell-side analysts anticipate that Lumen Technologies will post -0.17 EPS for the current year.

Insider Activity

In related news, Director James Fowler bought 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was purchased at an average price of $4.70 per share, for a total transaction of $47,000.00. Following the completion of the transaction, the director now owns 384,056 shares in the company, valued at $1,805,063.20. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 1.68% of the company’s stock.

Institutional Investors Weigh In On Lumen Technologies

Hedge funds have recently made changes to their positions in the company. Sawgrass Asset Management LLC increased its stake in Lumen Technologies by 68.5% in the 2nd quarter. Sawgrass Asset Management LLC now owns 22,786 shares of the technology company’s stock worth $25,000 after acquiring an additional 9,263 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in Lumen Technologies during the second quarter valued at $25,000. ANTIPODES PARTNERS Ltd bought a new position in Lumen Technologies during the second quarter valued at $26,000. HighPoint Advisor Group LLC purchased a new position in shares of Lumen Technologies in the 4th quarter worth $27,000. Finally, Fifth Third Wealth Advisors LLC bought a new stake in shares of Lumen Technologies in the 2nd quarter worth about $33,000. 66.19% of the stock is currently owned by hedge funds and other institutional investors.

Lumen Technologies Company Profile

Lumen Technologies, Inc, a facilities-based technology and communications company, provides various integrated products and services to business and residential customers in the United States and internationally. The company operates in two segments, Business and Mass Markets. It offers dark fiber, edge cloud services, internet protocol, managed security, software-defined wide area networks, secure access service edge, unified communications and collaboration, and optical wavelengths services; ethernet and VPN data networks services; and legacy services to manage cash flow, including time division multiplexing voice, private line, and other legacy services, as well as sells communication equipment, and IT solutions.